BTC Shark to 5-0 Pattern
Diupdate
Bitcoin is currently in a weekly Shark pattern, suggesting a potential pullback to complete the 5-0 pattern. We could see a move towards the T1 zone at $45,703 - $43,000.
5-0 Pattern: This pattern often follows the Shark pattern and indicates the completion of a corrective move after the initial reversal. The 5-0 pattern has a distinct structure, starting from the end of the Shark pattern and typically leading to a trend continuation after a brief consolidation or retracement.
The last wick to $49,000 was swiftly bought up, indicating the low might already be in. However, with the SPX nearing equal highs and possible volatility around Jackson Hole, a retest of lower levels remains possible.
RSI is trending just below the 50 zone on Daily and Weekly, suggesting a decision point is approaching. A move above 50 on the weekly would indicate the low is in, setting us up for upper targets at $70,315 / $76,197. If RSI rejects at 50, expect new lows.
Key Levels:
$49,000: A retest of this zone and a break above $63,139 will confirm the low is in.
A break below $49,000 will aim for the T1 Target at $45,793.
Buy Zone/Support Range: $45,703 - $43,000
$42,233 TD Support
The next few days will be critical. If we hold above $49,000, we may avoid a deeper correction.
5-0 Pattern: This pattern often follows the Shark pattern and indicates the completion of a corrective move after the initial reversal. The 5-0 pattern has a distinct structure, starting from the end of the Shark pattern and typically leading to a trend continuation after a brief consolidation or retracement.
The last wick to $49,000 was swiftly bought up, indicating the low might already be in. However, with the SPX nearing equal highs and possible volatility around Jackson Hole, a retest of lower levels remains possible.
RSI is trending just below the 50 zone on Daily and Weekly, suggesting a decision point is approaching. A move above 50 on the weekly would indicate the low is in, setting us up for upper targets at $70,315 / $76,197. If RSI rejects at 50, expect new lows.
Key Levels:
$49,000: A retest of this zone and a break above $63,139 will confirm the low is in.
A break below $49,000 will aim for the T1 Target at $45,793.
Buy Zone/Support Range: $45,703 - $43,000
$42,233 TD Support
The next few days will be critical. If we hold above $49,000, we may avoid a deeper correction.
Trade aktif
BTC target hit just shy of 76k. Thats the resistance for a big move. 81/91/102k to begin with. 
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.